Prepaid Contract. The Servicer may, at its option and in accordance with its customary and usual credit and collection practices, agree to permit a Contract in the Contracts Pool that is not otherwise contractually prepayable by its terms to become a Prepaid Contract (which shall not include a Contract that becomes an Prepaid Contract due to a Casualty Loss); provided that the Servicer will not permit the early termination or full prepayment of such a Contract unless (i) such early termination or full prepayment would not result in the Issuer receiving an amount (the "Prepayment Amount") less than the sum of (A) the remaining Principal Balance on the date of such prepayment and delinquent payments thereon and (B) any Unreimbursed Servicer Advances thereon (unless effectively waived and released by the Servicer), or (ii) if such early termination or full prepayment would result in the Indenture Trustee receiving a Prepayment Amount less than the amount set forth in clause (i), the Originator shall have agreed to pay the Issuer for remittance to the Indenture Trustee the difference between the Prepayment Amount actually paid and the amount set forth in clause (i) (such payment by the Originator also to be considered a "Prepayment Amount"). At the option of the Originator, the Servicer may use the Prepayment Amount to purchase a Substitute Contract for such Prepaid Contract from the Originator. The Servicer shall pay all Payaheads to the Payahead Account. With respect to any Payment Date, the Indenture Trustee shall withdraw amounts from the Payahead Account that reflect payments due in the related Collection Period, for distribution to the Noteholders.
Prepaid Contract. The Servicer may not permit a Contract in the Asset Pool to become a Prepaid Contract (which shall not include a Contract that becomes a Prepaid Contract due to a Casualty Loss), unless (x) the Servicer provides an Additional Contract or (y) such prepayment will not result in the Collection Account receiving an amount (the "Prepayment Amount") less than the sum of (A) the Discounted Contract Balance on the date of such prepayment calculated using the applicable Blended Discount Rate in effect on the date of such payment and (B) any outstanding Servicer Advances thereon. After a Payout Event has occurred, the Servicer may not permit a Contract in the Asset Pool to become a Prepaid Contract (which shall not include a Contract that becomes a Prepaid Contract due to a Casualty Loss), unless the Servicer collects an amount equal to the sum of the Discounted Contract Balance plus accrued and unpaid interest and any outstanding Servicer Advances thereon plus any swap breakage costs associated with the prepayment.
Prepaid Contract. The Servicer may not permit a Contract in the Asset Pool to become a Prepaid Contract (which shall not include a Contract that becomes a Prepaid Contract due to a Casualty Loss), unless (x) the Servicer provides an Additional Contract or (y) such prepayment will not result in the Collection Account receiving an amount (the "Prepayment Amount") less than the sum of (A) the Discounted Contract Balance on the date of such prepayment calculated using the applicable Blended Discount Rate in effect on the date of such payment, (B) any outstanding Servicer Advances thereon (and to the extent not included therein any accrued and unpaid interest) and (C) all Hedge Breakage Costs owing to the relevant Hedge Counterparty for any termination of one or more Hedge Transactions, in whole or in part, as required by the terms of any Hedging Agreement as the result of any such Contract becoming a Prepaid Contract. After a Termination Event has occurred, the Servicer may not permit a Contract in the Asset Pool to become a Prepaid Contract (which shall not include a Contract that becomes a Prepaid Contract due to a Casualty Loss), unless the Servicer collects an amount equal to the sum of (A) the Discounted Contract Balance on the date of such prepayment calculated using the applicable Blended Discount Rate in effect on the date of payment, (B) any outstanding Servicer Advances thereon (and to the extent not included therein any accrued and unpaid interest) and (C) all Hedge Breakage Costs owing to the relevant Hedge Counterparty for any termination of one or more Hedge Transactions, in whole or in part, as required by the terms of any Hedging Agreement as the result of any such Contract becoming a Prepaid Contract.
Prepaid Contract. The Servicer may, at its option and in accordance with its customary and usual credit and collection practices, agree to permit a Contract in the Contracts Pool that is not otherwise contractually prepayable by its terms to become a Prepaid Contract (which shall not include a Contract that becomes an Prepaid Contract due to a Casualty Loss); provided that the Servicer will not permit the early termination or full prepayment of such a Contract unless (i) such early termination or full prepayment would not result in the Issuer receiving an amount (the
Prepaid Contract. The Servicer may not voluntarily permit a Contract in the Asset Pool to become a Prepaid Contract (which shall not include a Contract that becomes a Prepaid Contract due to a Casualty Loss), unless (x) a Substitute Contract is provided in accordance with Section 2.17 or (y) such prepayment will not result in the Collection Account receiving an amount less than the Prepayment Amount.
Prepaid Contract. 27 Prepayment....................................................................27
Prepaid Contract. The Servicer may, at its option and in accordance with its customary and usual practices, agree to permit a Contract in the Contract Pool that is not otherwise contractually prepayable by its terms to become a Prepaid Contract (which shall not include a Contract that becomes an Prepaid Contract due to a Casualty Loss); provided, that the Servicer will not permit the early termination or full prepayment of such a Contract unless (i) such early termination or full prepayment would not result in the Trust receiving an amount (the "Prepayment Amount") less than the sum of (A) the Discounted Contract Balance on the date of such prepayment plus any accrued and unpaid interest payments thereon (at the Discount Rate) and (B) any outstanding Servicer Advances thereon, or (ii) if such early termination or full prepayment would result in the Trust receiving a Prepayment Amount less than the amount set forth in clause (i), either the Vendor or the Sellers shall have agreed to pay the Trust the difference between the Prepayment Amount actually paid and the amount set forth in clause (i) (such payment by the Vendor or Seller also to be considered a "Prepayment Amount").
Prepaid Contract. 35 SECTION 5.10. ACCELERATION.. . . . . . . . . . . . . . . . . . . . 36 SECTION 5.11.
Prepaid Contract. The Servicer may not permit a Contract in the Collateral to become a Prepaid Contract (which shall not include a Contract that becomes a Prepaid Contract due to a Casualty Loss), unless such prepayment will result in the Collection Account receiving an amount (the "Prepayment Amount") not less than the sum of (i) the Discounted Contract Balance on the date of such prepayment, (ii) any outstanding Servicer Advances thereon (and to the extent not included therein any accrued and unpaid interest) and (iii) all Hedge Breakage Costs owing to the relevant Hedge Counterparty for any termination of one or more Hedge Transactions, in whole or in part, as required by the terms of any Hedging Agreement as the result of any such Contract becoming a Prepaid Contract.
Prepaid Contract. The Servicer may, at its option and in accordance with its customary and usual practices, agree to permit a Contract in the Contract Pool that is not otherwise contractually prepayable by its terms to become a Prepaid Contract (which shall not include a Contract that becomes a Prepaid Contract due to a Casualty Loss); provided, however, that the Servicer shall not permit the early termination or full prepayment of such a Contract unless (i) such early termination or full prepayment would not result in the Trust receiving an amount (the "Prepayment Amount") less than the Discounted Contract Balance on the Determination Date immediately prior to the date of such prepayment plus any accrued and unpaid interest payments thereon (at the Discount Rate), or (ii) if such early termination or full prepayment would result in the Trust receiving a Prepayment Amount less than the amount set forth in clause (i), either the Source or the Seller shall have agreed to pay the Trust the difference between the Prepayment Amount actually paid and the amount set forth in clause (i) (such payment by the Source or the Seller also to be considered a "Prepayment Amount"). The Servicer shall not be entitled to recover any outstanding Servicer Advances with respect to any Contract so permitted to become a Prepaid Contract except to the extent of amounts in excess of the required Prepayment Amount actually collected by the Servicer from the related Obligor in connection with such prepayment. At the option of the Seller, the Servicer may use the Prepayment Amount to purchase a Substitute Contract for such Prepaid Contract from the Seller.
